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Bruce Retailers Inc. accepted $57,000 of Bigbank Visa credit card charges for merchandise sold on July 1. Bigbank charges 3% for its credit card use.

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Bruce Retailers Inc. accepted $57,000 of Bigbank Visa credit card charges for merchandise sold on July 1. Bigbank charges 3% for its credit card use. The entry to record this transaction by Bruce Retailers will include a credit to Sales Revenue of $57,000 and a debit(s) to: Accounts Receivable $57,000. Accounts Receivable $55,290 and Service Charge Expense $1,710. O Cash $55,290 and Service Charge Expense $1,710. Cash $55,290 and Interest Expense $1,710

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